Contractors

The provision of high level knowledge skills in certain sectors of the UK economy has traditionally been delivered by individuals trading as limited company ‘contractors’.

This structure allows both worker and the client to obtain flexibility, outside of the constraints of modern day employment law, as well as both obtaining tax and national insurance savings.

 

We have developed a wealth of accounting experience in acting for such contractors, who typically require a mix of our services such as:

  • Start-up assistance
  • Specialist tax advice in relation to IR35 and “24 month” rule for travel and subsistence
  • IR35 contract reviews
  • Registering for VAT
  • Remuneration planning ( tax efficient mix of salary and dividends)
  • Annual payroll and personal tax returns
  • Cloud Accounting services

 

We can also help answer questions such as

  • Is my contract IR35 friendly?
  • When can I take dividends?
  • How do I start a limited company?

Client Review

As an engineering manager, I started my own consultancy business ten years ago, with my wife as co-director. Whiting & Partners guided us in setting up the day to day accounting systems, that even the smallest company has to have, and have since looked after the annual accounts and tax matters.



 
Latest Blogs in Contractors
 
Vanessa Pearson
16th January 2020 Off-Payroll Working Rules: 11th hour reprieve?

Those personal service companies working in the private sector (referred to, variously, as freelancers, consultants or contractors) should now be aware that new tax rules will apply to them wef 1-Apr-20.  These rules, off-payroll working, aim to finally clamp down on the abuse of the Inland Revenue Press Release number 35 tax rules (IR35) that…

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Vanessa Pearson
13th December 2019 April 2020 Proposed IR35 changes: Status appeals process

As the planned changes to who determines IR35 status are fast approaching, contractors would be well advised to review their contracts on HMRC’s updated CEST (Check Employment Status for Tax) tool. Having provided answers to questions regarding substitution, control and nature of the work, the updated tool will give HMRC’s view of the workers employment…

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Vanessa Pearson
28th October 2019 Off-Payroll Worker Tax Rules: Be prepared!

Knowledge based contractors working in the private sector will hopefully now be well aware that, subject to any possible Government last minute change of heart, new tax rules are coming next April. For many, who are not currently following IR35 rules, this will mean a large increase in the tax they pay; perhaps tens of…

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Ian Piper
1st October 2019 New Off-Payroll Working Tax Rules: Y/N?

Readers, particularly knowledge based contractors working through their own personal service companies, will hopefully now be familiar with the new ‘off-payroll working’ tax rules being introduced in the private sector on 1 April 2020. These are being introduced as part of the Government’s general strategy over recent years to eliminate tax avoidance, tax evasion, and…

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Daryl Smith
10th September 2019 DELAYED – Domestic Reverse Charge VAT for Construction Services!

Brexit strikes again!  It appears that dreaded “B” word is not only good for grabbing headlines but also for causing H M Revenue & Customs a fair number of headaches.  Brexit has been blamed by the Revenue for everything from extended hold times on their phone lines to the delay in implementing their Making Tax…

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Amanda Newman
23rd August 2019 Changes in VAT for Contractors and Subcontractors

Confused by the new CIS reverse charge VAT rules that come into effect from 1 October 2019, then HMRC have issued further guidance at https://www.gov.uk/guidance/vat-domestic-reverse-charge-for-building-and-construction-services#overview.   The basics are as from 1 October 2019 if you are a VAT registered subcontractor working for a contractor you will no longer be paid for the VAT element…

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Vanessa Pearson
15th July 2019 IR35: private sector off-payroll rules for contractors

This week HMRC have published draft legislation that will affect private sector personal services companies (PSCs)  from 6 April 2020. PSC’s supplying services to medium or large-sized organisations will no longer decide if they are employed or self-employed, the end engager will assess this. If caught by these rules, known as IR35, employment taxes and…

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Vanessa Pearson
8th May 2019 Lorraine Kelly wins IR35 battle with HMRC; would you?

A recent series of HMRC high-profile court cases have brought Contractors back into the tax spotlight. TV presenters Lorraine Kelly, Kay Adams and Christa Ackroyd have all defended their working practices with mixed success.   HMRC claimed all three should have been taxed as employees rather than business owners. HMRC won the case against Ackroyd…

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Lisa Mason
18th March 2019 Payroll update: March 2019

  The team at Whiting’s payroll bureau have produced their latest newsletter, to keep clients updated on relevant recent changes to payroll and related legislation.   Edition 10 – March 2019  

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Vanessa Pearson
6th March 2019 HMRC wants your opinion – IR35 private sector consultation opens

The expected consultation period to roll out “off-payroll working rules” to the private sector has begun. HMRC propose that, from April 2020, medium and large sized private sector end-clients will be responsible for deciding if workers fees will be subject to PAYE and national insurance.   The consultation document advises HMRC will seek to address…

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